皇冠体育app

皇冠体育app UK Government has today (15 June 2023) agreed with the TRA鈥檚 that a countervailing measure on imports of Stainless Steel bars and rods from India be revoked. Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin.

皇冠体育app TRA found that although subsidised imports would continue if the countervailing measure were no longer applied, it is unlikely that the UK industry would be injured if the measure was no longer in place.

Trade association UK Steel said that there is 鈥渕inimal supply to the UK market of stainless bars and rods by UK producers and therefore very low risk of injury resulting from the removal of the measure.鈥�

In 2022, India accounted for the UK鈥檚 third biggest source of Stainless Steel bars and rods in tonnage. 皇冠体育app measure had meant that importers were required to pay a tariff of 0%-4%. However, the TRA鈥檚 investigation found that neither domestic and international market conditions or historic injury data suggested that injury to UK producers would occur if the measure were revoked.

皇冠体育apprefore, while the TRA concluded UK producers would not be harmed by revoking the measure, doing so would help to ensure competitively-priced imports from India continue.

Stainless Steel bars and rods are used across various industries, including the automotive, aerospace and food processing industries. 皇冠体育app bars and rods can either be used as a specific component in a larger product, for example as a propeller shaft, or they can be further worked into other stainless-steel products, for example precision components.

Notes to editors:

• 皇冠体育app Trade Remedies Authority (TRA) initiated this transition review in June 2022.

• 皇冠体育app period of investigation for the transition review was 1 April 2021 鈥� 31 March 2022 while the injury period was 1 April 2018 鈥� 31 March 2022.

• Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin. 皇冠体育appy are one of three types of trade remedies that are allowed under World Trade Organisation (WTO) rules.

• 皇冠体育app Trade Remedies Authority (TRA) is the independent UK body, established in June 2021, to investigate whether trade remedy measures are needed to counter unfair import practices and unforeseen surges of imports.